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November 24, 2014
 
Thailand's corn acreage shrinks as farmers shift to other crops for better returns (week ended November 10, 2014)
 
An eFeedLink Exclusive
 
 
Price summary
 
With the end of the rainy season early this month, demand for corn especially from feed mills is expected to boost prices which has stabilised at THB9.90/kg (US$0.2715/kg).
 
Soymeal price in Thailand is also stable at THB20.30/kg (US$0.63/kg) with white rice bran unchanged at THB 8.90/kg (US$0.28/kg) since the previous week. Rice bran residue is higher at THB8.30/kg (US$2.60/kg) from THB8.00/kg (US$0.25 kg) in the previous week.
 
Fishmeal with more than 60% protein is lower at THB26.80/kg (US$0.84/kg) from the previous week's THB27.80 (US$0.87). Leading Thai integrator Charoen Pokphand, which buys fishmeal at subsidised price, is quoting it at THB34.70/kg (US$1.08/kg) from the previous week's THB35.70 (US$1.11).
 
 
Market analysis
 
Thailand's Office of Agricultural Economics sees a decline in the country's corn production for the 2014/2015 cropping season due to shrinkage in cultivated area.
 
In a recent report, it said many of the country's corn farmers have shifted to cassava and sugar cane for this season because of weak corn prices, which had gone as low as THB7.35/kg (US$ 0.23/kg) in the last couple months.
 
Lesak Reutrakulpaiboon, general secretary of the Office of Agricultural Economics, said the total cultivated area for corn this season is 2.96 million acres with expected annual production of 5.02 million tonnes.
 
From 2009 until this year, Thailand's cultivated area for corn has been expanding at an average 0.72% annually with output increasing by an average 1.5% yearly driven by increased demand from the domestic animal feed industry.
 
During this period, however, the cost of corn production increased by an average 6.84% each season. Land rental cost climbed by 13.91% and land adjustment fee by 13.68% each season.
 
Corn demand in the domestic livestock industry each year rose by an average 3.55%. This year demand from the livestock sector is seen rising to 5.0 million tonnes from 4.73 million tonnes in 2013.
 
 FEED GRAINS
PRICE as of  Nov 3
(in Thai baht/kg)
PRICE as of  Nov 10
(in Thai baht/kg)
Changes
(in Thai baht/kg)
Corn  
8.90
8.90
 
Cassava roots
2.40
2.40
---
White Broken Rice A.1 Super (USD/tonne)
343.00
335.00
-8.00
White rice bran
8.90
8.90
---
Rice bran residue 
8.00
8.30
0.30
Soybean 
20.00
20.00
 
Soybean meal 
20.30
20.30
 
Fishmeal (protein more than 60%)
27.80
26.80
-1.00
Fishmeal CPF Price*(protein more than 60%)
35.70
34.70
-1.00
US$1=THB32.42 (March 24, 2014)
 
 


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